New for Traders: Shareholders approve ICE acquistion of NYSE

Financials

  • Stockholders from both IntercontinentalExchange (ICE) and NYSE Euronext approved the proposed acquisition of NYSE by ICE.
  • ERIS Exchange modified its contract size to a $100,000 notional size contract from the previous $1,000,000 notional size, in response to significant end user demand for increased granularity in trade allocations in advance of the June 10 Category 2 swap clearing mandate.
  • ICE Clear Europe will start clearing NYSE Liffe’s London-based derivatives market from July 1, 2013, pending regulatory approval. The transition process for open positions, if approved, will occur over the weekend of June 29 to June 30.
  • Cleartrade Exchange launched its third party reporting service through an electronic connection to the DTCC-owned Swap Data Repository. According to the report, derivatives contracts traded through CLTX can now be automatically reported to the DTCC in real-time, allowing the exchange members to meet CFTC trade-reporting requirements.

Options

  • CME will introduce three wheat options contract on its Kansas City Board of Trade (KCBT) hard red winter wheat futures, starting from July 1, pending regulatory approval. The contracts include an option on KCBT hard red winter wheat versus CBOT soft red winter wheat, another option on KBCT wheat versus Minneapolis Grain Exchange hard red spring wheat, as well as weekly KCBT options.
  • LSE will launch trading in single-stock options in June, with the offering to include 19 contracts on energy and mining companies listed in the UK. LSE’s Turquoise unit will also offer trade options on companies from BP to Rio Tinto from June 10, with the products to be cleared through LCH.Clearnet.

Commodities

  • CME will introduce three wheat options contract on its Kansas City Board of Trade (KCBT) hard red winter wheat futures, starting from July 1, pending regulatory approval. The contracts include an option on KCBT hard red winter wheat versus CBOT soft red winter wheat, another option on KBCT wheat versus Minneapolis Grain Exchange hard red spring wheat, as well as weekly KCBT options.
  • CME Group is exploring the sale of the NYMEX Building, the headquarters to the New York Mercantile Exchange (NYMEX). The 16-story, LEED-certified building is located at One North End Avenue overlooking the Hudson River immediately west of Brookfield Place (formerly the World Financial Center) and Goldman Sachs Tower.
  • CME Group announced it has expanded its centrally cleared, over-the-counter agricultural swap offering through the introduction of a new U.S. dollar-denominated palm oil swap.

Technology

  • Object Trading and Dubai Gold and Commodities Exchange announced Object Trading’s flagship direct market access suite FrontRunner is now live with clients connected to DGCX, and is available to provide direct market data and risk-managed trade execution.
  • Markit announced that it has launched Markit ETP Analytics, a comprehensive and independent analytics solution for the global Exchange Traded Products (ETP) market.
  • Barchart.com, Inc. announced that it has introduced a series of free market data widgets. Anyone can now visit Barchart’s market data solutions website and create customized displays using a widget builder, and then integrate the widget into their website.
  • The London Metal Exchange this week opened its Asian Helpdesk, which will provide full technology support for users throughout the Asian trading day. The new Systems Operations desk is located at the Hong Kong Exchanges and Clearing New Generation Data Centre in Tseung Kwan O.

Forex

  • SGX launched depository services for yuan-denominated bonds this week, in an effort to support Singapore’s development as an offshore hub for issuers and investors of yuan-denominated bonds.
  • SGX will launch futures in the INR, SGX, AUD and the AUD/JPY cross in 3Q13, Reuters reported. According to SGX head of derivatives Michael Syn, “it’s playing to our natural geographical advantage that most of the key trading heads, the key price-makers and many of the key policymakers are based where we are matching and where we are trading.”
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